Which of the following would generally not need to be approved by the board of directors?

Question

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The payment of a dividend is a routine activity that does not require prior approval from the board of directors. However, the declaration of a dividend would require board approval as it involves a decision to distribute profits to shareholders. Issuing or repurchasing capital stock may also require board approval as it affects the company's capital structure and ownership.

Which of the Following Would Generally Not Need to Be